NHAI, IL&FS ink deal on Rs 16.6 bn road project

National Highways Authority of India (NHAI) signed concession agreement with IL&FS Transportation for a Rs 1,665 crore road project in Jharkhand and West Bengal. The contract involves six-laning of Barwa-Adda-Panagarh section of national highway (NH 2) and it would be executed by Barwa-Adda Expressway, a subsidiary of IL&FS Transportation. Barwa-Adda would execute the Rs 1,665 crore project on design, build, finance, operate and transfer (DBOFT) basis. The project falls under National Highways Development Project (NHDP) phase V. The company had quoted a premium of Rs 42 crore, it added. The project is on toll basis with a concession period of 20 years including construction period of 910 days.